The numbers bear that kind of thought out too. People can deposit money into MPesa accounts from 70 countries around the globe, 25 banks are connected to the service and KSH 1.8-billion (US$22-million) is moved between people daily.

Another reason is because of the throat-hold Vodafone has on it. In early 2011, Ushahidi and iHub founder Erik Hersman suggested that Vodafone should spin MPesa out as an independent entity “and let it take on the world”.

Within Vodafone, he said, “MPesa is like all of the services and startups eaten up by other large companies that die due to not being within an ecosystem with an entrepreneurial bent, but instead are sucked down by bureaucracy.”

While the model may not have been easy to replicate, there’s no doubting it’s a force to be reckoned with. Not bad for something that started out as a microfinancing service that allowed borrowers to conveniently receive and repay loans.

Author | Stuart Thomas

Stuart is the editor-in-chief of Engage Me Online. After pursuing an MA in South African literature, he spent five years reporting on the global technology scene. Intrigued by the intersection of technology and work, he joined Engage Me as the editor-in-chief. He is a passionate runner, and recently ran... More